Business bankruptcies, entrepreneurial failures, unemployment, and salary reductions have been ongoing topics in recent years. Many former business owners have accumulated debts and been forced into becoming “debt defaulters”, while numerous individuals have been blacklisted for credit breaches due to job losses and interrupted mortgage payments. Data shows that in the past five years, China’s personal debt has surged by 50%. Those branded as debt defaulters now number over 8.5 million, a near 50% increase from 5.7 million at the beginning of 2020. These debtors, who have failed to meet their repayment schedules for home or business loans, mostly range in age from 18 to 59 and constitute 1% of China’s workforce.
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Eatery Loses 500K in Three Months, China’s Personal Debt up 50%, 8 Million Become Defaulters
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If you ever find yourself printing money, earning millions, for God’s sake put $1 million into a trust or retirement account and forget about it.
They bit the hand that fed them after a self inflicted policy that failed.
Is China another country with really greedy and wealthy elites and 3 people being worth half of the peasants? Getting sick of the greed. It's too hard to survive for people now. Working themselves to death.
If banks can go tonsuch extents to get thier money back what right do they have to charge such rates
karma is a b**
@ 1:02 sounds like he didn't know what the word "save money" meant.
DON'T put it in Chinese banks or buy gold or silver and let THEM store it for you. You store it at your home. You probably had a lot of room at where you lived at to store it away secretly. I'm mean after you paid taxes on it. Buy a decent home safe, not a 2nd obscene amount money for a 2nd sports car!!
You could of had a small safe room built as well to keep it safer!
You could of lasted the 3 years/covid pretty good then. Too bad about the fraud experience, and I being nice here. But the money you had in the safe shouldn't and wouldn't be touched if you had used your brains!!!!!
Bet you could of bought 6 -10 decent nice foreign brands of cars for what you paid for 2 of what you bought.
Bet you could of bought 4-6 decent nice homes for what you paid for your 2 over expensive homes………………..SMH
In the era of gold rush the business is selling shovels. I have 0 empathy for those rich Chinese people because we all know how they threaten the poor people when they literally swim in money.
Man was flexing a RANGE ROVER ????????
In China, it appears many of the "Lucky Ones", are those who died.
being entrepreneur in china is like trying to do business in mafia controlled area… you sh!t out of luck. just keep your money and move far away.
Many countries these days have started heavily using "cloud seeding" technologies, lol, to make heavy rains like never seen to literally wreake havoc on their land to drown it and by its excuse to also 'drown their economy' to make a "Restart" or "Reset" of it all again as part and plan of the "Global Reset" and then 10 zones of the world map for economies will emerge as already planned decades ago !! ????????????????????????
For the guy in the garage… go see a dentist.
CHINA IS MISSING GOD! NOT ONLY CHINA, THE WEST AND THE REST OF THE WORLD. A LAND WITH NO FAITH, HAS NO HOPE! I am a Catholic sister/nun. Used to be atheist. Forgiveness saved me from suicide.
I watch this show cause I can listen while I work. Do not use the 1000hz tone like you did 30 seconds in. Trained dogs run from that sound as is their training and I will unsubscribe if I hear it again. Please do not use it as I cannot have problems like this. You can mute it easily.
“I had billions and now I’m billions in debt”
How can you be wise enough to become a billionaire and yet foolish enough to end up billions in debt?
Let this be a lesson. Never make accumulation of wealth your main reason for living.
All because of China made Covid killing millions of people worldwide….. absolutely disgusting
When blindfaith blind sided you, and all of you ignored all information the world had been showing you peeps, your current state of affairs is only consequential.
This is just the beginnings of the financial crsis…worst is yet to come… who to blame?? The CCP
as usual continue lying …rev 21:8 puts you guys in lake of fire for eternity wahahahahaha…how stupid can you guys get Chinese are mad about property…these default are 2nd, 3rd or even 4th homes not like in US where people are so poor they actually are homeless….hell waits for liars
Take bigger risk and larger business loans to buy multiple luxury cars and houses. Kind of hard to feel sorry when it is 100% greed. Stay humble, pay off cars, maximize cash flow and take calculated risks.
Kawawa talaga ang mga citizen sa China kapag ang leader ng bansa nila ay isang diktador na kumunista. Sana dumating ang araw na maging malaya ang China at maging democracy country.